US Dollar Rarely Trades Above 1.39 CAD

Igor Manukhov - Mar 10, 2023

The US dollar is approaching a historically significant level. If you need to sell some US dollars, this might not be a bad time to do so.

Recent market volatility and uncertainty is causing the US dollar to rise again. It is now sitting near a historically significant level of 1.39-1.4 CAD. As you can see from the chart below, it very rarely exceeded that level in the past (horizontal red line). Most of the time it pulled back from this important level.

If you are considering buying US dollars, you might want to hold off for now and wait a better price. If you are looking to sell some US dollars, this might be a good time to do so based on the historical evidence.